Shaded band: the middle 68% of outcomes. Where the blue curve sits above the dashed one, options price that move as likelier than a plain bell curve would.
| Chance below | Price | vs spot |
|---|---|---|
| 5% | 183.85 | −32.1% |
| 16% | 216.31 | −20.1% |
| 25% | 232.07 | −14.3% |
| 50% (median) | 267.08 | −1.4% |
| 75% | 307.45 | +13.5% |
| 84% | 329.95 | +21.8% |
| 95% | 388.78 | +43.5% |
| Up 5% or more (284.41) | 38% |
|---|---|
| Up 10% or more (297.96) | 30% |
| Down 5% or more (257.33) | 43% |
| Down 10% or more (243.78) | 33% |
Options price a 10%+ drop at 33%, 1.0× the 34% a bell curve with the same volatility gives.
Risk-neutral odds from option prices, the bot's lgf odds method: out-of-the-money mids → implied vols → a smoothed smile in total variance → density = erT·∂²C/∂K² (Breeden–Litzenberger). Risk-neutral odds include the market's risk premium, so they lean bearish compared with real-world odds. Not investment advice.